Cement maker Buzzi reports nearly 10% drop in half-year core profit
Cement maker Buzzi reports nearly 10% drop in half-year core profit Aug 4 (Reuters) - Italian construction materials supplier Buzzi BZU.MI on Tuesday reported a 9.7% drop in its recurring core earnings for the first half of 2026, as rising production costs and a weaker U.S. dollar hurt its margins.
The results highlight the pressure that the weakened dollar and energy-driven cost inflation are putting on European producers of building materials.
Buzzi shares fell as much as 8.5% after the results publication and were down 2% at 1110 GMT
Recurring EBITDA fell to €475 million ($547 million) in the first half, from €526 million a year ago
Recurring EBITDA margin contracted to 21.7% from 24.1% in the same period
It confirmed 2026 guidance for recurring EBITDA of €1.1 billion to €1.2 billion
In the U.S., operating profitability deteriorated more sharply, with EBITDA falling 20.7% due to weaker market conditions and higher unit production costs
In Brazil, net sales rose 23.8% to €204 million, as public and private demand supported moderate but broad-based growth in construction activity, Buzzi said
($1 = 0.8687 euros)
(Reporting by Romolo Tosiani in Gdansk, editing by Milla Nissi-Prussak)